01 / Discover
A private conversation — and a real number.
A single 45-minute call under NDA. We look at your route density, recurring mix, and customer retention, and come back with a defensible valuation range — not a “what would you take” lowball.
Sellside M&A · Pest control onlyEst. 2019 · Austin / Nashville / Raleigh
You built the route.We build the exit.
Corridor Research is an M&A brokerage built for pest control owner-operators. We run a quiet, disciplined process to put your business in front of the right buyer — and leave you with a number that reflects twenty years of stops, not a weekend of spreadsheets.
Target size
$1M – $5M EBITDA
Your cost
$0 — the buyer pays us
Typical close
1 to 3 months
Residential recurringCommercial accountsTermite renewalsMosquito programsWildlife & exclusionRoll-up platformsFamily successionPartial liquidityResidential recurringCommercial accountsTermite renewalsMosquito programsWildlife & exclusionRoll-up platformsFamily successionPartial liquidity
At a glanceBuilt for operators,
Built for operators,
measured by outcomes.
We only work with pest control. That focus is why we know what a 92% retention route is worth, why we price termite renewals separately from general pest, and why we bring seven offers instead of three.
Pest control, only.
The one and only vertical we represent. Every process, every buyer relationship, every model is built for this industry.
40+
Active PE-backed consolidators and strategic acquirers in the category today — we talk to the ones who actually close.
7–10
Qualified bidders we invite to each process. Never a broad blast — real competition, zero leaks.
$0
What you pay us. Our fee comes from the buyer at close, tied to getting you the higher number.
The processFour phases.
Four phases.
No noise. No leaks.
Selling a pest control business you spent two decades building is not a listing — it's a process. Here's ours, in the order we run it, with the artifacts you'll get at each step.
02 / Prepare
Clean financials, clean story.
We normalize the P&L, quantify owner add-backs the way strategics actually credit them, and build the materials: CIM, data room, management presentation. You stay focused on the routes.
03 / Market
Seven to ten buyers. Never a broad blast.
We run a tightly controlled process to a pre-qualified list — PE-backed consolidators, regional strategics, a handful of family offices. Your name stays off the street until a signed LOI.
04 / Close
We sit in every seat at the table.
LOI negotiation, quality-of-earnings, working capital peg, reps & warranties, earnout language — we've done this enough times that the buyer's attorneys stop trying to slip things in around week three.
The thesis
Pest control is the best consolidation story nobody's written about.
Recurring revenue, essential-service demand, contracted renewals, fragmented ownership, and a buyer pool that grew from three platforms in 2015 to more than forty today. If you built a profitable route in the last twenty years, somebody is going to buy it — the question is whether they pay fair, or whether they pay right.
01
Recurring by design
70–85% of revenue at a healthy pest business is contracted or quarterly-recurring. Buyers pay for retention, and retention is what we help you prove.
02
Ten years of tailwinds
Industry revenue has compounded at 5.4% annually since 2015, with termite and mosquito segments outpacing core pest. There's more buyer capital than there are quality routes.
03
Fragmentation is fuel
18,000+ U.S. pest control operators. The top twenty players hold less than 40% share. Every quality $1–5M EBITDA business is, right now, a platform or a bolt-on to somebody's thesis.
Track record
Recent closes.
A selection of representative transactions. Buyer and seller identities withheld per engagement terms; metrics are disclosed with client consent.
2025Gulf Coast residential & commercial pest platform→
2025Mid-Atlantic termite & wildlife control→
2024Southeast regional, 4-location→
2024Texas metro, residential-heavy→
2024Mountain West, commercial & bed bug specialty→
2023Midwest, two-generation family operator→
Representative transactions. Full track record available under NDA.
Request full track record →Featured
“We got an offer from a competitor. Then Corridor Research got us six more.”
Case 01 · Gulf Coast platform — drop founder / branch photo here
“Corridor Research ran a process that turned a single unsolicited offer into a competitive auction. Final price was 47% higher.”
$3.8M EBITDAResidential + Commercial2025
Seven inbound offers. One process. A 6.8× close.
A two-state, four-branch operator had received an unsolicited approach from a PE-backed consolidator at 5.2× trailing EBITDA. We ran a six-week preparation cycle, re-framed the add-back story, and took it to nine strategic and financial buyers. We closed at 6.8× with a structure that included 22% rollover equity and a clean two-year transition.
+47%
Final price vs. initial offer
9
Qualified bidders engaged
94 days
LOI to close
Questions, answered
What owners ask us first.
The honest answers, not the brochure ones. If your question isn't here, call us — Mondays are quiet.
What's my business actually worth? +
Lower-middle-market pest control is trading at 4× to 8× trailing adjusted EBITDA depending on recurring mix, route density, customer retention, termite exposure, and owner dependency. A clean $2M EBITDA residential-heavy book in a growth metro, with 82% recurring and one operations manager who isn't you, is a different animal than a commercial-heavy book tied to three key accounts. We'll give you a defensible range on the first call.
Why use an advisor at all? +
Because the buyer you know is the buyer you know. There are roughly forty active institutional acquirers in pest control today, and ninety percent of owners can name two of them. A process isn't about finding a buyer — it's about creating a market, which is the only thing that moves price.
How much does this cost me? +
Nothing. We're paid by the buyer, not by you. There is no retainer, no monthly, no success fee on your side — our engagement is with the acquirer, which means representing your business well and getting you a fair, competitive price is how we keep working in this industry. You pay your own attorneys and your own accountants; you don't pay us.
Will my customers, employees, or competitors find out? +
Not from us. Every buyer signs an NDA before seeing a CIM, and your identity is masked in the teaser. We've run thirty-eight of these. The only leaks we've seen came from owners telling their GM too early.
How long does this take? +
One to three months from engagement to wire. Preparation runs one to two weeks, active marketing is two to three weeks, and LOI to close typically lands inside four to eight weeks. We move fast because our buyer network is already built and already under NDA — we're not starting from zero every time.
Do I have to sell the whole thing? +
No. Roughly a third of our engagements involve partial liquidity — the owner sells 70–80% and rolls the rest into the buyer's equity. It's a way to take chips off the table, stay involved, and get a second bite at a bigger pie five years later.
What if I'm not ready to sell for two or three years? +
Then we're the right call now. Half of the value we create happens before we go to market: cleaning financials, separating termite revenue, building out the second layer of management, getting pricing in line. We'll tell you the three things that would move your multiple by a full turn, and check in quarterly. No fee until you're ready.
Start the conversation
A 45-minute call, a real valuation, no sales pitch.
We take on eight to ten engagements a year. The first call is confidential, off the clock, and entirely without obligation. If we're not the right fit, we'll tell you — and usually introduce you to someone who is.